Bonuses can push the deal to $70 million, Paul said.
Murray, 23, is part of the 2016 NBA draft class that was eligible to sign rookie extension deals prior to a 6 p.m. ET Monday deadline. The Spurs made him the 29th overall pick that year.
Murray appeared in 81 games (48 starts) for San Antonio in 2017-18, averaging 8.1 points and 2.9 assists. He became the youngest player in NBA history to make an All-Defensive Team in 2017-18, after recording 97 steals and 31 blocks.